Bitcoins in Africa? - page 2. | Bitcointalksearch.org

NorrisK

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Quote from: haroldtee on June 09, 2017, 02:43:07 AM

Quote from: CjMapope on June 09, 2017, 02:04:09 AM

A few people have come wondering about Bitcoin in Africa and i thought too as well until i was informed that they are quite comfortable in their "Mpesa" system, that really does ALOT for them, all through their phones. It's a shame as its a prime example of use case for crypto, but a corporation did it instead Sad

https://en.wikipedia.org/wiki/M-Pesa

You are generalising your thoughts based on just two parts of Africa (Kenya & Tanzania) where M-Pesa is basically used. Have you heard news about other parts of Africa like Nigeria? Bitcoin is already storming most parts of Africa with great potentials. There are already Bitcoin exchange platforms for example in Nigeria to the Fiat currency (remitano, Luno etc) and I know few people who even trade with bitcoin. There is a very huge potential and great promise for Bitcoin.

Quote from: btc_angela on June 09, 2017, 02:18:14 AM

Only thing I see with Africa is that the infrastructure. I don't know if African country has the setup like Internet that will really help bitcoin their exposure to a large public. How can they take advantage of bitcoin if proper infrastructure like internet is not set-up? So for me, establishing facilities (buildings, power and internet) should be the priority.

You are right in a way regarding infrastructure in most parts of Africa when compared to developed countries but it is not as bad as the outside world portrays it. I am an African, a Nigerian precisely, I use Bitcoin and I have Internet 247 every month on my mobile. So as majority of other part of the country. Like I said, we might not be where we want but it is not as bad as portrayed or assumed by people outside Africa. You don't have a clue how Bitcoin has helped me personally in international exchange compared to when using western union, foreign transaction limits via banks, paypal and the rest.

It's nice to read that especially in African countries there are REAL use cases.

In western countries most people are simply hoarding bitcoin as a store of wealth, but as you say in Africa its already making life easier. That's the thing that brings value to bitcoin.

Renji Abarai

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Quote from: Kakmakr on June 09, 2017, 02:55:38 AM

South Sudan, Mozambique, Madagascar, Eritrea, Zimbabwe, Zambia, Djibouti, Mauritius, Malawi are some of the countries in East Africa. We all know that Zimbabwe is the rotten apple and should be avoided as a holiday destination. < The local currency has collapsed, so the citizens might benefit from using Bitcoin to protect their wealth >

Mauritius might have some tourist potential, but ISIS is operating in and around these areas, so there might be some risk factors to keep in mind. The poorer countries can benefit from Bitcoin, once scaling has been implemented and the fees come down for micro transactions. ^hmmmmm^

I agree with you that poorer countries can benefit from bitcoin and actually its happening now. Even altcoins like Ethereum has great follower in Asia. Bitcoin really give equal opportunities in industrializing countries especially in Africa.

Kakmakr

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South Sudan, Mozambique, Madagascar, Eritrea, Zimbabwe, Zambia, Djibouti, Mauritius, Malawi are some of the countries in East Africa. We all know that Zimbabwe is the rotten apple and should be avoided as a holiday destination. < The local currency has collapsed, so the citizens might benefit from using Bitcoin to protect their wealth >

Mauritius might have some tourist potential, but ISIS is operating in and around these areas, so there might be some risk factors to keep in mind. The poorer countries can benefit from Bitcoin, once scaling has been implemented and the fees come down for micro transactions. ^hmmmmm^

haroldtee

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Quote from: CjMapope on June 09, 2017, 02:04:09 AM

A few people have come wondering about Bitcoin in Africa and i thought too as well until i was informed that they are quite comfortable in their "Mpesa" system, that really does ALOT for them, all through their phones. It's a shame as its a prime example of use case for crypto, but a corporation did it instead Sad

https://en.wikipedia.org/wiki/M-Pesa

You are generalising your thoughts based on just two parts of Africa (Kenya & Tanzania) where M-Pesa is basically used. Have you heard news about other parts of Africa like Nigeria? Bitcoin is already storming most parts of Africa with great potentials. There are already Bitcoin exchange platforms for example in Nigeria to the Fiat currency (remitano, Luno etc) and I know few people who even trade with bitcoin. There is a very huge potential and great promise for Bitcoin.

Quote from: btc_angela on June 09, 2017, 02:18:14 AM

Only thing I see with Africa is that the infrastructure. I don't know if African country has the setup like Internet that will really help bitcoin their exposure to a large public. How can they take advantage of bitcoin if proper infrastructure like internet is not set-up? So for me, establishing facilities (buildings, power and internet) should be the priority.

You are right in a way regarding infrastructure in most parts of Africa when compared to developed countries but it is not as bad as the outside world portrays it. I am an African, a Nigerian precisely, I use Bitcoin and I have Internet 247 every month on my mobile. So as majority of other part of the country. Like I said, we might not be where we want but it is not as bad as portrayed or assumed by people outside Africa. You don't have a clue how Bitcoin has helped me personally in international exchange compared to when using western union, foreign transaction limits via banks, paypal and the rest.

Sithara007

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There is a lot of promise for Bitcoin in Africa, especially in two sectors: tourism and remittance. For international tourists, currency exchange can be sometimes a nagging and frustrating experience in Africa. The usage of Bitcoins can solve this issue. Also, companies such as Western Union and Moneygram are charging atrocious amounts for sending remittance to Africa. In this area also, Bitcoins can prove their worth.

btc_angela

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Only thing I see with Africa is that the infrastructure. I don't know if African country has the setup like Internet that will really help bitcoin their exposure to a large public. How can they take advantage of bitcoin if proper infrastructure like internet is not set-up? So for me, establishing facilities (buildings, power and internet) should be the priority.

CjMapope

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A few people have come wondering about Bitcoin in Africa and i thought too as well until i was informed that they are quite comfortable in their "Mpesa" system, that really does ALOT for them, all through their phones. It's a shame as its a prime example of use case for crypto, but a corporation did it instead Sad

https://en.wikipedia.org/wiki/M-Pesa

Scorpion

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Huge huge potential in Africa. There's some of it already there but once the majority of Africa comes into the technological fold of the internet and crypto world it's simply going to be a game changer.

Kamaumburu

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Going by the kind of discussions around social medial platforms on bitcoins/cryptocurrencies, the East African market is warming up to a future with bitcoins/altcoins. But given the potential, is the speed and frequency hopeful for digital currencies, comparatively speaking? Could someone consider ICOs with an African perception?

Topic: Bitcoins in Africa? - page 2. (Read 915 times)